Business
Proposed Disposal, Placing and other matters
Proposed Disposal, Placing and other matters.
About this update from Caledonian Holdings Plc.
[{"type":"text","content":"\n \n \n RNS Number : 6899U\n Vela Technologies PLC\n 31 July 2020\n \n \n \n \n THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, RUSSIA, CANADA, AUSTRALIA, REPUBLIC OF IRELAND, REPUBLIC OF SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.\n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 (\"MAR\"). IN ADDITION, MARKET SOUNDINGS WERE TAKEN IN RESPECT OF THE MATTERS CONTAINED IN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF SUCH INSIDE INFORMATION. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION.\n \n \n 31 July 2020\n \n \n Vela Technologies plc\n \n \n (\"Vela\" or the \"Company\")\n \n \n \n \n \n Proposed Disposal, Share Capital Reorganisations, Bond Conversion, Board Changes and Placing to raise £1.0 million\n \n \n \n \n \n The Board of Vela (AIM: VELA) announces that it will today post to shareholders a circular convening a general meeting of the Company (the \"General Meeting\") to consider the Proposals including the proposed Disposal of certain assets of Vela, share capital reorganisations, proposed conversion of £550,000 outstanding bonds to new ordinary shares in the Company, a conditional placing to raise gross proceeds of £1.0 million and proposed board changes. \n \n \n \n \n \n Given the complex nature of the Proposals and the Share Capital Reorganisations, the Directors of the Company have requested that the Existing Ordinary Shares be suspended from trading on AIM pending completion of the Proposals. As such the Existing Ordinary Shares will be suspended from trading on AIM at 7:30 a.m. today. The suspension will remain in place until completion of the Proposals and as such it is expected that the suspension of the Existing Ordinary Shares will be lifted with effect from Admission.\n \n \n \n \n \n Extracts from the circular, providing background to and reasons for the Proposals are copied at the end of this a...